Loading...
•
Jun 30, 2024
Insight Enterprises Q2 2024 Earnings Report
Second quarter results reported with gross profit increase and expanded gross margin.
Key Takeaways
Insight Enterprises reported a decrease in net sales by 8% year-over-year but achieved a 5% increase in gross profit and an expansion of gross margin by 260 basis points. The company's strategy focusing on cloud and services contributed to double-digit growth in cloud and Insight Core services gross profit.
Gross profit increased 5% year over year to $453.4 million with gross margin expanding 260 basis points to 21.0%.
Insight Core services gross profit grew 12% year over year.
Cloud gross profit grew 21% year over year.
Consolidated net earnings grew 9% to $87.4 million, year over year.
Insight Enterprises
Insight Enterprises
Insight Enterprises Revenue by Segment
Insight Enterprises Revenue by Geographic Location
Revenue by Segment
Products Revenue
CapyFin.comServices Revenue
CapyFin.comHardware Revenue
CapyFin.comSoftware Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
For the full year 2024, the Company expects Adjusted diluted earnings per share to be between $10.60 and $10.90. We expect to deliver low double digit gross profit growth and expect that our gross margin will be in the 19% to 20% range.
Positive Outlook
- Adjusted diluted earnings per share to be between $10.60 and $10.90.
- Deliver low double digit gross profit growth.
- Gross margin will be in the 19% to 20% range.
- Interest expense of $60 to $62 million.
- Effective tax rate of 26% for the full year.
Challenges Ahead
- Assumes no acquisition or integration related expenses.
- Excludes acquisition-related intangibles amortization expense of approximately $69 million.
- Assumes no transformation or severance and restructuring expenses, net and no significant change in our debt instruments or the macroeconomic environment.
- Due to the inherent difficulty of forecasting some of these types of expenses, which impact net earnings, diluted earnings per share and selling and administrative expenses, the Company is unable to reasonably estimate the impact of such expenses, if any, to net earnings, diluted earnings per share and selling and administrative expenses.
- The Company is unable to provide a reconciliation of GAAP to non-GAAP diluted earnings per share for the full year 2024 forecast.
Revenue & Expenses
Visualization of income flow from segment revenue to net income